Comparison of Pionex vs Bit [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Pionex vs Bit comparison!

Your expert: Alejandro Borja

pionex

Pionex

  • Threenvest valuation: 4/5
  • US legal: Yes
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

bit

Bit

  • Threenvest valuation: 3,8/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Main points

Fees

0.05%

Earns

Yes

Customer service

3/5
0.07%/0.04%

Fees

Yes

Earns

3/5

Customer service


Recommended for

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold

Yes
No

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for automated trading.
3.6 – Reasonable fees but higher for certain advanced trading options.

Level

0.05%
0.07%/0.04%

Brief explanation

Pionex’s trading fee structure is notably competitive, designed to cater to both frequent and casual traders. The platform charges a flat trading fee of 0.05% per transaction, which applies to both makers and takers. This fee rate is among the lowest in the cryptocurrency exchange industry, making Pionex an attractive option for traders looking to minimize costs while maximizing returns. Additionally, the integration of trading bots at no extra cost enhances the value, as these bots can execute trades automatically based on predefined strategies, further optimizing trading expenses for users.
Bit.com offers a competitive fee structure that’s attractive for both casual and serious traders. The exchange charges a 0.06% fee for takers and a 0.04% fee for makers, which is below the industry average. This low fee schedule is beneficial for high-volume traders as it allows them to maximize their profits on each trade. Additionally, Bit.com does not charge any deposit fees for cryptocurrencies, though there are fees associated with fiat withdrawals and deposits, which vary depending on the payment method and the currency involved. Overall, this fee arrangement supports an active trading environment at a reduced cost.

Pionex

pionex
Read pionex review
  • Regulation: Pionex is registered with FinCEN as a Money Services Business (MSB), which means it complies with several regulatory standards aimed at preventing money laundering and financial fraud. This registration enhances user trust as the platform adheres to stringent financial regulations.
  • Security methods: Pionex prioritizes security with several layers of protection, including bank-level security systems and encrypted algorithms to safeguard user data and assets. The platform also employs two-factor authentication (2FA) for additional security during login and withdrawal processes.
  • Customer service: Pionex offers a comprehensive customer support system, including a detailed FAQ, a responsive email support team, and a community on various social media platforms where users can seek help and share their experiences.
  • Trading volume and liquidity: Thanks to its liquidity aggregation that combines liquidity from Binance and Huobi Global, Pionex provides high trading volume and liquidity, ensuring that trade orders are executed swiftly and at competitive prices.
  • Reputation and Reviews: Pionex has garnered positive reviews from users primarily due to its user-friendly interface and the unique offering of built-in trading bots. The community feedback on the effective functioning of these bots and the overall reliability of the platform is generally favorable, reinforcing its reputation in the crypto community.
  • Pros
  • Automated trading bots
  • Low trading fees
  • High liquidity aggregation
  • Cons
  • Complex interface for beginners
  • Limited regulatory information

Read pionex review

Bit

bit
Read pionex review
  • Security Methods: Bit.com employs advanced security protocols including multi-factor authentication, cold storage of assets, and continuous system monitoring, ensuring a high level of protection for user funds and personal data.
  • Reputation and Reviews: Since its inception, Bit.com has quickly built a strong reputation for reliability and professionalism within the crypto community. The positive reviews and testimonials from seasoned traders underline its credibility and trusted status in the market.
  • Trading Volume and Liquidity: Bit.com is known for its high trading volume and liquidity, which is crucial for executing large trades without significant price slippage. This makes it an ideal platform for institutional investors and professional traders who require quick order execution.
  • Transparency: The exchange is transparent about its fee structure, trading processes, and the security measures it implements. This openness is essential for building trust with users and is a core reason why many choose to trade on Bit.com.
  • Withdrawal and Deposit Policies: Bit.com offers clear and user-friendly policies regarding withdrawals and deposits. These policies are designed to provide convenience while also ensuring the security of transactions, which significantly enhances user trust and satisfaction with the platform.
  • Pros
  • Advanced trading features integrated.
  • High liquidity ensures efficient execution.
  • Competitive fee structure for traders.
  • Cons
  • Complex interface, steep learning curve.
  • No fiat currency support available.

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Product selection

Native token

No
No

Earns

Yes
Yes

NFT marketplace

Yes
No

Cripto/debit card

Yes
No

Company information

Full name

Pionex Inc.
Unknown

Regulation

Not regulated
Regulation not specified

Year founded

2019
Unknown

Founder

Unknown
Unknown

Payment methods

Transfers

No
No

Mastercard

Yes
No

Wire transfer

No
No

Card

Yes
No

Comparative table

Pionex FEATURES Bit
Pionex allows for low minimum trade amounts, making it accessible for beginners wanting to start small.
Minimum Trade
Allows small minimum trades, accessible for those looking to start with modest amounts.
Offers highly competitive fees, particularly attractive because of the zero-fee trading with bots, which is a standout feature.
Trading and Transaction Fees
Competitive fees across trading types, appealing to high-volume traders due to lower costs.
Supports a wide range of cryptocurrencies, providing users with a diverse selection of trading options.
Number of Cryptocurrencies
Offers a decent variety of cryptocurrencies, though not as extensive as the largest platforms.
Extensive range of trading pairs, allowing users flexibility in their trading strategies.
Crypto-to-Crypto Trading Pairs
Provides a wide range of crypto-to-crypto trading pairs, enabling diverse trading strategies.
While Pionex offers good information on its operations, more clarity on regulatory compliance and security measures could improve transparency.
Website Transparency
The website provides clear and detailed information about fees, policies, and trading options.
PointPay does not currently offer a card for customers to use in their daily transactions or at shops.
Credit/Debit Card
Bit.com lacks an exchange card, limiting additional spending flexibility and benefits for its users compared to some competitors that offer branded cards with rewards.
Provides secure storage options, but enhanced details about its cold storage capabilities would be beneficial.
Storage Offering
High-level security storage solutions including cold storage options to protect user assets.
Offers competitive staking rewards, particularly through its bot-driven strategies, though it could expand its rewards program.
Staking and Rewards
Offers staking options but with limited rewards compared to leading competitors.
Both platforms are highly user-friendly and well-designed, offering full functionality.
Mobile App and Desktop
Both mobile and desktop platforms are well-designed, offering full functionality and user-friendly interfaces.
Responsive customer service with multiple channels, but could improve by adding real-time support like live chat.
Customer Service
Customer service is available, but response times can vary, impacting user experience during peak times.
Responsive customer service with multiple channels, but could improve by adding real-time support like live chat.
Deposit and Withdraw
Efficient processes for depositing and withdrawing funds, though improvements could be made in speed.

Key features

Analysis tools

Integrated bots for automated trading
Basic charting tools

Mobile APP

Yes
No

Security

High 4,6/5
High 4,6/5

Additional features

Automated trading bots, margin trading, staking, Pionex Earn
Spot trading, margin trading, lending services, OTC trading

Anonymity

Yes
Yes

Key points

Available cryptocurrencies

120+ (with trading bots)
30+

User-friendliness

Pionex offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.
Bit offers a straightforward and intuitive platform that is easy for beginners to use. The interface is clean and provides essential features without overwhelming new users.

Value for money

Provides good value for money with low trading fees and automated trading bots, making it an attractive option for new and experienced traders.
Offers reasonable value for money with competitive fees and a straightforward trading experience, though it may lack some advanced features.

Countries of operation

Singapore, United States, Canada, Australia, United Kingdom
United States, Canada, United Kingdom, Australia, Singapore

Best for

Ideal for traders interested in automated trading bots and low trading fees.
Great for beginners and experienced traders looking for a straightforward trading experience with competitive fees.

Base currencies available

USDT, BTC
JPY, USD, EUR, BTC

Account

Trading

Pionex is known for its automated trading bots, offering a unique feature for users. It has a good range of cryptocurrencies and competitive fees but can be complex for beginners.
BIT exchange offers robust security and a user-friendly interface. While it provides essential trading features, it lacks the advanced tools required by professional traders. The exchange also has moderate liquidity.

Deposit and withdrawal

Pionex offers multiple deposit and withdrawal methods, including bank transfers and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.
BIT exchange supports multiple deposit options such as bank transfers and cryptocurrencies. Withdrawals are processed efficiently, usually within a day. Fees are minimal, enhancing accessibility.

Account opening process

Pionex provides a straightforward and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient and typically takes less than a day to complete.
BIT exchange provides an easy account registration process. Users need to provide personal details and verify their identity. The account is usually approved within a day, ensuring quick access to trading.

KYC required?

Yes
No

Customer Service

Pionex provides customer support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support may be a limitation for some users.
BIT offers customer support through email and live chat. The support team is knowledgeable and responsive, but the absence of phone support and limited availability can be a disadvantage.

Security

Pionex employs comprehensive security measures, including 2FA and cold storage. However, it lacks regulation from major financial authorities, which might be a concern for some investors.
BIT offers strong security features, including 2FA and encryption. Despite its robust security measures, the platform lacks regulation from major financial authorities, which could be a concern for some users.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As a seasoned user and reviewer of cryptocurrency exchanges, I find Pionex to be an intriguing option, particularly for those who are fascinated by automated trading. The built-in trading bots, which offer diverse strategies and the ability to operate 24/7, make Pionex a standout choice for traders who aim to maximize their trading efficiency without constant personal monitoring. This feature alone simplifies the trading process significantly and can be a game-changer for both new and experienced traders. However, it’s important to approach with a degree of caution and ensure understanding of how these bots operate to truly benefit from what Pionex has to offer.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert on our website, I recommend Bit.com for traders looking for a robust platform that excels in derivatives trading and offers high liquidity. Its advanced security and comprehensive trading tools make it a strong choice for experienced traders. However, new traders should be aware that the platform’s complexity and limited fiat support could pose initial hurdles. Overall, Bit.com is a standout exchange for those looking to leverage sophisticated trading strategies in the cryptocurrency market.

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View all comparisons against Bit

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

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